Tennessee Community Trades in Receivership Sale
Blueprint recently announced a few closings involving a prominent lender and special services seller. The first was in Raleigh, North Carolina, and was handled by Kyle Hallion, Kory Buzin and Steve Thomes. Buzin and Thomes facilitated the second deal, selling Knollwood Point in Mobile, Alabama. The pair also sold The Pointe at Kirby Gate in Memphis, Tennessee. The Pointe at Kirby Gate is a 1996-vintage, 52-unit, distressed assisted living and memory care community that was struggling to rebound from pandemic-era lows. Blueprint highlighted its location and proximity to three major short term acute hospitals, targeting buyers with a presence and/or interest in Memphis. The marketing... Read More »
Northeast-Based Owner/Operator Expands in Georgia
Daniel Geraghty, Bradley Clousing and Nick Cacciabando of Senior Living Investment Brokerage were engaged in the sale of a skilled nursing facility with 100 beds in College Park, Georgia. At the time of sale, the facility was operating at a loss. The seller was a national owner of long-term care and seniors housing assets across the country, and the ultimate buyer was a Northeast-based owner/operator that is expanding its Georgia portfolio. They plan to relocate the beds within the county. Read More »
Did Blackstone Sell Too Soon?
According to recent media reports, real estate investor The Blackstone Group has sold and is in the process of selling about $1.8 billion in seniors housing assets. It wants to completely exit the seniors housing business which they claim has been a disaster for them. One report stated that they have lost upwards of $600 million across the portfolio. Apparently, they were a bit befuddled that seniors housing is not a simple real estate business, that it has a lot of moving parts, is management intensive and that you need good managers. Oh, and then there was that problem with the pandemic. All we have heard, from one source, is how seniors housing has outperformed all other real... Read More »
National Health Investors Adjusts Its SHOP Portfolio
National Health Investors, Inc. announced some adjustments to its SHOP portfolio, raising its full-year guidance for the third consecutive quarter due to the contribution of recently transitioned and newly acquired SHOP properties, along with continued strength in its investment pipeline. The REIT also had an update on its lease agreement with National HealthCare Corporation. First, NHI transitioned seven properties from the real estate investments segment to its SHOP portfolio, which resulted in consolidated SHOP NOI year-over-year growth of roughly 63%. However, the REIT’s same-store SHOP portfolio, comprising 15 legacy Holiday Retirement properties, saw NOI decline 2.2% with lower... Read More »
Strawberry Fields’ Three Separate SNF Transactions
Strawberry Fields REIT, Inc. announced three separate skilled nursing transactions that closed during the third quarter. Two previously announced acquisitions were in Missouri, and the recently announced purchase was in Oklahoma. In July, the REIT completed the acquisition of nine skilled nursing facilities with 686 beds in Missouri. The acquisition was for $59.0 million and the company funded it utilizing working capital. Eight of the facilities were leased to Tide Group and were added to their existing master lease that Strawberry Fields entered into in August 2024. This acquisition increased Tide Group’s annual rents by $5.5 million with rents structured to rise 3% per year. The... Read More »Schedule a demo
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